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Cashin In

News/Business. A practical look at money management. New. (CC)

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00:30:00

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San Francisco, CA, USA

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Virtual Ch. 760 (FOX NEWS HD)

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mpeg2video

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ac3

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1280

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720

TOPIC FREQUENCY

Us 6, America 5, Garth 3, Mulligan 3, Arthel Nevil 2, Jonathan 2, Alka Seltzer 2, Baker 2, Diabetes 2, Morsi 2, Lte 2, Coburn 2, Bjorn 2, Eric 1, Justin 1, Bakers Union 1, Teamsters 1, Bilking The Irs 1, Tracy Burns 1, Jonathan Honig 1,
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  FOX News    Cashin In    News/Business. A practical look  
   at money management. New. (CC)  

    March 2, 2013
    1:30 - 2:00pm PST  

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we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur >>. >> neil: what do you got. >> you need more equities, i like ibm and huge up side potential. >> neil: what do you think of that? >> it's such and un-charms like pick. i do like the dividend. it has a good run. that would be my only quibble. >> neil: what you ru doing?
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>> a company called lucadia and merging with a fine investment bank and their management is assured of the future. >> neil: ben, you know warren buffett well, what do you think? >> warren loves that stock. it's incredibly well run company. what my dear friend in northern california knows about the market doesn't know is a bit of mystery to me but god bless him. >> neil: what are you doing? >> sdy the high dividend paying of the s&p 500, it's done very well over time. i find generally buying averages is buying individual stocks. >> in this kind of market, look upside potential and principal as well. >> neil: this is the place for
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business. stay with us. you are watching fox. killing your tax dollars. remember this tax funded video about how to survive obama apocalypse. now, they are cooking up more government waste and union clowns who some blame to take twinkies off the shelves. now, they are getting sweet deal on uncle sugar. guess who is getting big blockbuster tax breaks? 1 percenters, trying to do it. these hypocrites and keeping tabs on your money. we start right now. >> i'm eric bombing. are a cashin in crew, wayne rogers and jonathan honig and tracy burns and margie, welcome everybody. congress can't find $85 billion in spending cuts, how about cutting this.
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$45 billion in unused government coffers. $68 billion beale doled out on studying fish and what they can teach us about democracy. creating videos showing grill sergeants shows off their recipes. jonathan is this what d.c. should have been targeting all along? >> the role have government is clear. it's limited and defined by the constitution. in ours it's full of waste. chock-full of worthless spending. it's exercises and videos about grilling and studies on this and that. senator coburn, would pay workers that don't even work for taxpayers. and even now neither party is serious about cutting the size and scope of government. >> eric: $156 million to not work.
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federal employees to stay home. >> my gosh, it's embarrassing. i got coburn's report here. you can get it. it's hundred pages -- hundred items of waste. another bridge to nowhere, 520,000 in ohio. we got fighting obesity with giant graffiti carrots. i mean it's ridiculous. this is comic material. when you think about it, the president takes the jet and goes to play golf with tiger woods, that is $2 million, $3 million down the drain by the time you take everybody that goes with him. stand up and say, we have a terrible problem. we got on to cut. meantime, he is spending. >> eric: you like mietd like this, climate change the musical hundred thousand dollars.
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>> he will be very proud. look, it's unbelievably extraordinary. hundred billion dollars a year in corporate wealth. you taught me how to do this eric, you follow the money. politicians spent $7 billion getting themselves re-elected. they are raising all that money. as a result every time you cut waste special constituent interest to defend and nothing will get done. too much money in politics. >> eric: this is bipartisan. >> waste is bipartisan on both sides, right. >> absolutely. this is not a one party problem. i think you nailed it on the head and the money that goes into politics is one of the biggest problems. absolutely there is waste. having this be a partisan conversation, i think it's creating the problem. we created in it two camps instead of running government do like a business. what is here is absolutely critical. not oversimplifying what other
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program does, you can't do uniform cuts. >> eric: but they will teach you how to grill safely. how about the fish one? >> i love that. reminds me neno -- keep swimming -- nemo and not enough beef jerky in france. and probably the most, they think we are naive. they can pull the wool over our eyes. we know what is happening and audacity to stand tsa people are going to lose their job. how dare you do this. >> eric: go ahead jonathan, they do like to spend. >> they not only like to spend but talking about cutting. >> they follow up with a sob story or scare tactic about how the whole world is going to collapse.
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at least the g.o.p. in my estimation that wealth comes from private markets, from free enterprise not from ever growing government. if you think it does, check out greece or italy. >> marjorie makes a good point. government has increased, federal government has doubled in 12 years. >> absolutely, i agree. you can't make it partisan and i do think that some of the things are highlighted are problematic. i can't go across the board and say everything has equal weighted. some things contribute to health and safety. other things are completely wasteful. something like defense, really going through it all with a fine-tooth comb. >> something else, a couple of these things. identity thieves, bilking the irs out of billions, $3.9 billion in tax refunds on fraudulent returns.
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if you ran a business like this, $3.89 billion, we're not talking about chopped liver. we're talking about something big. >> federal government is business and failing on many levels. >> it should be run like a business on the employment level. where are the term limits. these guys are in is on forever and they have to appease their constituents. all the fish lovers of the world need the votes of their senators >> and we all know entitlements and got to be shared sacrifice across the board. >> america is currently spending more than every other country in the world on defense. >> if we are spending $325,000 studying reoblgt sqiarls, maybe we should hit those things?
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>> robotic skirls -- defense is one of those responsibilities to reserved for the government. cisco let them study robotic squirrels. there is plenty of stuff to cut. but they need to protect individual rights and not spending people's money. >> i think the question is what do we do about this? we know it's ridiculous. we know it's out of hand. yet here we have a senate, here is harry reid always posturing at the senate. they haven't passed a budget since 2009. we don't even have a budget. you can't run your household without some kind of an idea where the money is coming from and where it is going. they don't know. >> neil: can you answer that. can you answer that why the senate hasn't passed a budget? >> i think we as the media
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contribute to the partisanship. i think it will require a coming to the table and i think the campaign finance reform and term limits, absolutely, that would change the name of the conversation because when you do have special interest groups, when you do have lobbyists that are informing what the cuts doesn't it's hard to have a good conversation. defense spending, there is plenty of waste there as well. we have to look at cyber for example cited with the irs example. where we are spending and why. >> all you need is pen and start slashing things. coming up, have you heard of a baker's dozen. how about a bakers bailout. now getting a deal off the charts. ♪ ♪ with the spark miles card from capital one,
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>> live from america's headquarters, i'm arthel nevil. a massive sinkhole in florida that may have killed a man is getting bigger. he is missing after the ground opened up. it swallowed him and everything in the room. now engineers say the risk of the whole house of falling in. neighbors removed their belongings as they test the ground in the area. >> the top new diplomat as secretary of state, john kerry in care row for high level talks. in cities across the country, anti-government protestors rally against mohammed morsi. secretary kerry stressed the need for morsi to reach out to opposition groups. kerry and morsi are set to meet tomorrow. i'm arthel nevil. now back to cashin in. death.
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stay with us. everybody. ♪ ♪ ♪ >> eric: here is something important taxpayers. union bringing down hostess is now snacking on your tax money. government ruling those workers can collect benefits due to global competition. doesn't sound too good. >> i wish i had a twinkie and we could sing happy birthday but the bakers union brought the company down. even the teamsters had a better contract and they said, no thanks. now on top of unemployment they are getting all these global trade benefits. global trade wasn't the problem, unions were. >> 18,000 employees can access unemployment and trade adjustment. i thought global trade
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competition, that is good thing? >> of course. it should be competition. the fact that the government has to pay for something like that is outrageous. that is why we have competition for. if you have competition in the labor market and competition for production purposes. competition is good. the fact that everybody has a better way, fox wants to fire us let's say. do we say, they fire us because we weren't doing something and therefore we get money? everybody that gets fired gets money? it's out of control. >> eric: isn't that where we are going, entitlement society, i lost my job, i must be able to get assistance. unemployment, how about the global trade thing? you don't even have to work anymore? >> don't we wish. the fact that hostess were warning the loss of our twinkies and hostess is gone.
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it was going under. they said look there isn't a market. shift in the products available. that is one debate. i think what you are asking about in terms of these entitlement programs as they call them, these were available for many other companies like gerber and frito-lay, people being unemployed because of global trade. how do we keep people in the job market. we need the job training and you need to make it to find new jobs. it's important to all of us because it means or banking institutions stay afloat and continue to pay mortgages. >> eric: so this is baker us a union saying we don't want to take the deal that hostess was offering, guess what, we can't afford to do business and goodbye. government goes ahead and bails those people out again. >> as i understand it, they were making as a union were making two times the national average
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for bakers. they were doing pretty good. in defense they needed to be protected against global trade, as wayne's point, it helps workers. imports are down. bakery hiring is up. why should they have any rights? why should they have right to a guaranteed salary. how the free market is anything but and it's perfect example of government intervention. >> eric: are our european friends laughing at us? >> it's a big problem for developed nations. statistics are different on this but i think 230,000 americans lose their jobs to outsourcing. maybe you do want to retrain them but the hostess workers should get the global relief program, i'm not quite sure. >> this is about unions. they brought down the auto
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industry, they are bringing down the twinkie. what is next? these guys are making demands that no one can afford and look what happens. >> i have a solution. let's all quit and go to work for the government. that is easier. >> if i can get 50% of my salary plus moving expenses and unemployment and baby care, maybe it's easier to quit my job. >> you still won't be making what you did if you were an employee. so we can glorify it i would rather have a job. you do the math. >> it doesn't matter what you prefer. you have no right to it. 50%, if you get fired from your job you don't have a right to that income anymore. that is called america. it's exactly what programs like this disrupt. >> eric: good discussion. coming up, one taxpayer's dream
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♪ ♪ ♪ >> weed or welfare, more recipients to get their checks. kansas and indiana latest to push this week. right or wrong? >> it's interesting. seven states, you go on welfare because you want to go out and get a job. last thing you wanted so for
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people to get stoned all day long. >> eric: what do you think of this? you went toward the libertarian. do you like this idea or not? >> states are starting to legalize drugs and now we will be testing for them at the same time. i am against drug testing, it's government further into individual's lives but more against welfare itself. welfare isn't fair. the taxpayers who are being harmed. money is being taken by them by force. it's given to people in need. that is unfair. it doesn't matter whether it goes no a nobel prize winner or somebody else. >> eric: what about this, somebody that wants a welfare check. you put them on treatment and you give them their check. then you pull the check, bad idea? >> i think it's an interesting idea. the question here what is debated a lot of times is whether it's unlawful search and seizure. someone is on drug use typically
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when they go in in. the question also is what is the cost of doing these drug tests in relation he gets busted to having their rights taken away. i think your proposal is an interesting one. i don't know if it would work. it's a tough one. this debate goes round and round >> neil:. >> eric: what about it? >> i don't think anyone has to do with the other. some guy is on drugs and he is on welfare. if you are taking drugs and buying drugs on the street or wherever the heck you are getting them. you are against the law. that has nothing to do whether or not you are on welfare. you are drunk and you are welfare and, oilt doesn't matter. >> eric: if i put a check in your right pocket and take money out of your left pocketed to pay for drugs, aren't i paying drugs. >> by the way if i rob a bank it's the same thing. >> if you are going to do it you have to make sure you have treatment programs fallen and accessible.
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at the end of the day. millions of americans who suffer from substance abuse problems, 11% are in treatment programs. we need more treatment programs. >> corporate america drug tests. you get a paycheck, i got to drug test you -- isn't it the same thing? >> if i work for fox and they want to drug test me, they can if i fail they can fire me. why can't we do that with welfare recipients. >> but you have social security, medicare, medicaid and plenty of programs they don't get drug tested. corporate america is one thing, and it's an interesting question, but it's hard to implement, it really would be. >> it's a simple moral end of this, legalize drugs and end welfare. there is nothing in particular. >> you opened a big can of worms. honig, good job. we have to leave it there.
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thanks for joining thus week. coming up, now, look who is reeling in the tax break. democrats want to raise taxes but someone here says they should start with their pals in seven sell town. ♪ ♪ ♪ ♪ ♪ ♪ dad, i'd put that down. ah. 4g, huh? verizon 4g lte. 700 megahertz spectrum, end-to-end, pure lte build. moe most consistent speeds indoors or out. and, obviously, astonishing throughput. obviously... you know how fast our home wifi is? yeah. this is basically just as fast. oh. and verizon's got more fast lte coverage
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